Credit bureaus are starting to take a closer look at how consumers use their credit cards, and this could mean problems for consumers who don’t pay off their cards in full each month.
All three major credit bureaus have started adding “revolver” or “transactor” to a consumer’s credit report. “Revolver” is for someone who carries a balance each month, always racking up interest charges. “Transactor” is someone who purchases, but pays off the balance in full each month.
Clearly, the implication is that transactors are less likely to default on debt than revolvers.
If you are a revolver or someone who carries a balance on your credit cards each month, contact a qualified debt settlement attorney who can help you eliminate interest charges, reduce your debt, and save you money in the long run. Then, you can be a transactor.
Kevin Fallon McCarthy
Latest posts by Kevin Fallon McCarthy (see all)
- Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
- CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
- Rise of the Jumbo Student Loans - March 17, 2018
- Credit Card Market: Now and Then - February 23, 2018
- Make Your Credit Cards Work for You - January 23, 2018